Friday, November 29 2019
By Jim Damicis and Bethany Meys, Camoin 310
Oil, gas and coal have been drivers of the U.S. economy from the beginning stages of the industrial economy and have continued through the transition to the high-tech, knowledgeable economy. They are also key parts of emerging industry trends impacting the economy of tomorrow. In this article we examine the oil, gas, and coal industries and first provide an overview of key economic performance data and trends. We also examine how these three industries impact other industries through supply and value chains. We conclude with what all this means for economic and business developers including for those within communities that do not have extraction related or even process related concentrations in these industries.
Oil, gas, and coal are significant to the economy on two fronts. On their own they create direct economic output. This includes direct jobs, sales, and exports. They also create impact by providing the resources to generate energy used by other industries, as well as an input to downstream markets including distributors, processors, and manufacturers. In the case of manufacturers, oil, gas, and coal are used for both energy and as an input to manufacturing of plastics, rubber, chemicals, as well as other products. This further contributes to job, sales and exports.
Oil and Gas Production at Record Highs and Fossil Fuels Continue to Play a Major Role in the U.S. Economy
Tuesday, November 20 2018
By Angelos Angelou, Founder & CEO, AngelouEconomics, AngelouEconomics.com
Fossil fuels—love them or hate them, they’re the backbone upon which modern civilization was built. They’ve made nations. They’ve sparked wars. And, most importantly, they’ve provided the key ingredient for the most rapid and sustained economic expansion in human history.
Yes, it’s true that fossil fuels—coal, oil, and natural gas—are by their nature finite resources. It’s also true that their use releases climate-impacting carbon emissions into the atmosphere. These considerations, as well as the rise of a new generation of renewable energy technologies, all but guarantee that fossil fuels will largely go by the wayside at some point in the future. Maybe it will be in our lifetime. Maybe it will be in our children’s lifetime, or their children’s. Given the constantly evolving trends, tech, and geopolitics influencing the global energy sector, it’s hard to make long-term prognostications with any certainty.
Thursday, November 30 2017
By Michael D. White
Over the past decade, advances in energy generation and the technologies surrounding both its process and distribution have had a marked impact on the way both the public and industry view what keeps the lights on and the wheels of industry turning.
According to a recent report released by the Alexandria, Virginia-based American Geosciences Institute (AGI), “Increased publicity about the potential hazards and impacts of energy production and transport has led to conversations about energy and the environment that have grown louder and more fraught with emotion, giving the impression of an issue defined by strongly entrenched positions and with little opportunity to find common, or middle, ground.”
But, the AGI says, the issue and its social, political, technical and environmental components has actually resulted in a growing interest in what the AGI calls the development of “a methane economy” powered by a combination of its "cousins," natural gas and oil.
Wednesday, November 23 2016
Source: U.S. Energy Information Administration
Shale in the United States 2016
Where are shale gas and oil resources found?